An investigation on behalf of investors in Insys Therapeutics Inc (NASDAQ:INSY) shares over potential wrongdoing at Insys Therapeutics Inc was announced and NASDAQ:INSY stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 12/20/2016 -- An investigation was announced for investors in shares of Insys Therapeutics Inc concerning potential breaches of fiduciary duties by certain directors at Insys Therapeutics Inc.
Investors who purchased shares of Insys Therapeutics Inc (NASDAQ:INSY) and currently hold any of those NASDAQ:INSY shares have certain options and should contact the Shareholders Foundation at email@example.com or call 858-779-1554.
On April 24, 2015, an article was published entitled "Insys Therapeutics and the New 'Killing It,'" reporting on patients who either died or suffered adverse events while being treated with Subsys. The article also detailed how Insys Therapeutics Inc aggressively markets Subsys.
On May 20, 2015, another article wa published entitled "Top prescribers of Insys Therapeutics' Subsys arrested on drug charges," reporting that two of Insys's highest-volume prescribers had been charged with illegal prescription drug distribution by the Drug Enforcement Agency ("DEA").
On June 25, 2015, another article reported that a nurse in Connecticut pled guilty to participating in a kickback scheme wherein she accepted approximately $83,000 in kickbacks from Insys Therapeutics Inc in exchange for writing more than $1 million worth of Subsys prescriptions.
On December 3, 2015, another article was published entitled "Murder Incorporated: Insys Therapeutics, Part I," alleging that one Defendant had been forced to resign from the Company by Insys Therapeutics' founder and the Executive Chairman of Insys's Board of Directors—and that Insys Therapeutics Inc operated a scheme to promote the illegal and improper off-label marketing and sale of Subsys.
On January 25, 2016, another article was published entitled "The Brotherhood of Thieves: Insys Therapeutics," alleging that Insys Therapeutics' executives have continued to pressure Company employees to develop new schemes to promote the illegal and improper off-label marketing and sale of Subsys.
On February 2, 2016 a lawsuit was filed in Arizona against Insys Therapeutics Inc (NASDAQ:INSY), over alleged violations of Federal Securities Laws. The plaintiff claimed that between March 3, 2015 and January 25, 2016 the defendants are alleged to have failed to disclose that the Company was engaged in the illegal and improper off-labeling marketing of Subsys, that certain Insys employees—including Defendant Michael L. Babich, the President and Chief Executive Officer of Insys during much of the Class Period—were complicit in an illegal kickback scheme operated for the purpose of increasing prescriptions of Subsys, and that as a result, the Company's financial statements were materially false and misleading at all relevant times.
Those who purchased shares of Insys Therapeutics Inc have certain options and should contact the Shareholders Foundation.
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